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But the MC wasn't reflected by the value of its assets, it was based on the company potentially getting suspended and de-listed, if found guilty possibly bust completely. Therefor the share before de-listing as you rightly pointed out had very little monetary value. (2 million MC)
However looking at the historical charts prior to the court hearing you will notice or if you held at the time remember this share being into the high pennies and this is what a few are hoping of a return to in this instance the 5pps is possible but as you rightly point out not guaranteed.
Anyway only time will tell and everyone had written this share off so anything back in the bank will be better than nothing!
Do the maths CGH has around 1.3bn shares and at 5p this would equate to £65 million when SBLM was de listed the value of the company was around £2 million.
Ats do you currently hold shares here or did you at some point then sell out?
You seem very sure about not getting 1:1 however existing PI were offered the shares at this price to raise a placing to relist, with this i mind how can you do a placing solely based on your share total and at a price that would be differ from a transfer of stock by name but reduce the ration from say 1:1 to 10:1 (for example). Plus the 5pps was given for the value on the assets do you recall the highs of this share prior to the scandal that led to the de-listing and with it the drop of SP?
Hi ats,
Mind sharing your thoughts/reasoning behind your statement? .....GLA
There is no chance for a a one CGH share for on of the new listing, will be lucky to get 1 for 10.
Hopefully I bought as a gamble before the desisting so that is a big jump for me 0.2 to 5p x25 bagger
5pps !!! ........With 1.1mil + in here, bring it on. GLA
Ebbs sounds too good to be true, hope you are right all the same, GLA
Aren’t Contango only bidding for the coal assets? If so this would leave iron ore assets.
I hope your right Ebbs, it would be a cracking result, but I wonder what will happen to our other assets?
For starters I have no knowledge or experience of these matters however this is how I see it.
I owned shares in Sable mining, which then changed its name to Consolidated Growth Holdings, I now own shares in CGH.
CGH was delisted, but never went bust e.g. into administration, it just turned into a private company. There was talk at the time by the BOD that they would list on a platform like Asset Match, but never did.
I still own my shares in CGH, but as a private company there is no market to sell or buy them.
So that shareholder value can be releases CGH are going to be taken over by Contango Holdings which are a listed company on Aim, they are paying 5p per share in CGH to take over our assets, once this is done I would imagine Contango will come out of suspension and start trading again.
The offer is 5p a share by Contango for CGH shares, as I owe shares in CGH they will be paying me 5p for each one of these.
Might be totally naive about this, or soon I will have a very large smile on my face. But very soon we will find out.
Hope I’m wrong but the way I see it is they have used our money to provide value for themselves. Then they delisted and now will eventually sell off there assets to cgo and pocket the money for themselves without us seeing a penny! I written my shares off along time ago but with the recent activity I thought they might be a chance of getting something back! These crafty crooks should be locked up in my opinion!